Author: Deal Street Asia Online News

Malaysia’s Affin Hwang seeks to add $5.5b assets in 3 years

Malaysian investment manager Affin Hwang Asset Management has rebranded to AHAM Asset Management (AHAM Capital), and is aiming for 100 billion ringgits (nearly $22 billion) in assets under administration (AUA) by 2025, it said in a statement. The move follows the completion of its majority sale to Luxembourg-based alternative investment firm CVC Capital Partners. AHAM… Continue reading Malaysia’s Affin Hwang seeks to add $5.5b assets in 3 years

Affirma Capital seeks to sell stake in Jordan’s Fine Hygienic Holding

Singapore-based buyout firm Affirma Capital is seeking to exit its stake in Jordan-based Fine Hygienic Holding, one of the Middle East’s largest makers of tissue and paper products, two sources told Reuters. Affirma is working with Moelis & Co to arrange the sale of its significant minority stake in the company, said the sources, who… Continue reading Affirma Capital seeks to sell stake in Jordan’s Fine Hygienic Holding

Musk may choose to build EV factory in S Korea

Tesla chief executive Elon Musk said on Wednesday that South Korea was among its top candidate locations for a factory it plans to build in Asia for making electric vehicles (EVs), according to South Korea’s presidential office. Musk had made the remark in a video call with President Yoon Suk-yeol, adding that the company planned… Continue reading Musk may choose to build EV factory in S Korea

SG’s Wavemaker Partners appoints ex-Facebook and Stripe exec as GPAndy Hwang is also an active angel investor.

Southeast Asian venture capital firm Wavemaker Partners has appointed Andy Hwang as a general partner, according to a statement. Hwang, a longtime angel investor with stints at Facebook and Stripe, will join Wavemaker’s investment committee and work closely with managing partner Paul Santos. He will also sit on the boards of portfolio companies. Hwang is… Continue reading SG’s Wavemaker Partners appoints ex-Facebook and Stripe exec as GPAndy Hwang is also an active angel investor.

ADB approves $20m loan to Binh Duong’s waste management project in Vietnam

The Asian Development Bank (ADB) has approved a loan of $20 million to Binh Duong Water Environment JSC to support its Binh Duong Waste Management and Energy Efficiency project, according to a disclosure. The financing comprises $7 million from Japan, $7 million in ordinary capital resources, and $6 million from Leading Asia’s Private Infrastructure Fund (LEAP),… Continue reading ADB approves $20m loan to Binh Duong’s waste management project in Vietnam

Australian HRtech startup Sapia.ai scores $11m funding from Macquarie, W23

Sapia.ai, a Melbourne-based startup that created an AI-powered recruitment platform, has announced raising A$17 million ($11 million) in a Series A funding round co-anchored by Macquarie Capital and Woolworths Group’s venture capital arm W23. Founded in 2013, Sapia.ai claims that its technology is the first solution of its kind to disrupt biases that affect traditional… Continue reading Australian HRtech startup Sapia.ai scores $11m funding from Macquarie, W23

Temasek’s Fullerton said to be raising up to $1b for new Asia-focused carbon fundThe fund will target EVs, renewable energy, infrastructure and agricu…

Temasek-backed Fullerton Fund Management is raising a new carbon fund focused on Asia, according to sources close to the development. One direct source told DealStreetAsia that the private equity (PE) investor is targeting to raise between $750 million and $1 billion for the fund, while a separate source said that the firm is seeking around… Continue reading Temasek’s Fullerton said to be raising up to $1b for new Asia-focused carbon fundThe fund will target EVs, renewable energy, infrastructure and agricu…

Heliconia Capital, Yangzijiang launch $109m PE fund targeting SMEs in SE Asia

Singapore-listed Yangzijiang Financial has teamed up with Temasek-backed Heliconia Capital to launch a S$150-million ($109 million) new fund that will invest in small and medium-sized enterprises (SMEs) in Singapore and Southeast Asia. The newly-launched private equity fund, Heliconia Generation Fund Limited Partnership, will co-invest alongside the other fund managed by Heliconia with a focus on… Continue reading Heliconia Capital, Yangzijiang launch $109m PE fund targeting SMEs in SE Asia